All businesses face risks daily, but small businesses are more vulnerable because they don’t have the same assets as large businesses. No insurance can protect your business from every risk, but commercial insurance is designed to offer the most protection possible. At Ingram Insurance in Cheraw, SC, we are independent insurance agents with the expertise and experience to provide our customers with the level of service they expect. 

Not every small business will need every type of potential commercial insurance, but some types are universally useful. 

Commercial property insurance

Commercial property insurance will cover the building where your business is located if you own the building, but it does more than that. It is valuable even if you are renting your location, it covers the things you use in your business. That can be things like office equipment, inventory, display units, raw materials, tools, and anything that you need to conduct your business. 

Commercial liability insurance

Being sued is one of the most common risks that all business face. You can be sued by an unhappy customer, by someone who was injured while visiting your business, or by something that you produce. You can even be sued by an employee who is unhappy. All of these pose dangers to your business’s survival. Commercial liability insurance will pay a judgment against you and legal costs up to the limit of the policy. 

Worker compensation insurance

The state of South Carolina requires that businesses that employ four or more employees provide worker compensation. There are some exceptions for casual workers who don’t work regular hours and employers who have a payroll of less than $3000 annually. Worker compensation protects workers but also employers. 

Contact us

When you are ready to discuss your commercial needs, give us a call at Ingram Insurance in Cheraw, SC. 

Starting a business always comes with risks, and if you’re considering a multi-level marketing (MLM) career in Cheraw, SC, you may need commercial insurance. While MLM companies usually cover their independent consultants’ general liability insurance policy, Ingram Insurance recommends calling us to make sure you are fully covered.

Types of Coverage

While MLM businesses don’t require the same kind of coverage as traditional brick-and-mortar stores, you still need protection. One of the essential types of commercial insurance is General Liability Insurance (GLI), which protects you against claims of bodily injury or property damage caused by your business operations. Another type of insurance you might want to consider is Product Liability Insurance to cover any claims of injuries caused by the products you sell.

Know Your Company’s Insurance Policy

Before purchasing commercial insurance for your MLM business, check the company’s policy, which covers it as part of the company package. If your company includes liability insurance, you must review its limits and conditions to ensure you’re adequately covered.

Benefits of Having Commercial Insurance

There are numerous benefits to having commercial coverage for your MLM business. Firstly, you’ll have peace of mind knowing that your business is safeguarded against any unforeseen risks. Additionally, you may be able to secure new clients and work opportunities since you have comprehensive coverage. Finally, obtaining a liability policy shows a sign of responsibility and professionalism to your clients and partners, which can help build trust in your brand.

Reach Out To Us

While your MLM company may provide liability insurance, it is important to understand that this may not be enough. If you are in the Cheraw, SC area, contact Ingram Insurance, and we will help you get the right coverage for your MLM business.

Owning your own business comes with an incredible amount of risk. Most small businesses fail within 10 years. The best protection you have is commercial insurance. At Ingram Insurance in Cheraw, SC, we know commercial insurance, and we are in a position to find the best policies to meet your needs. We can offer more choices, and we will match you up with the right coverage.

Important commercial coverage options

Commercial property insurance

It is an absolute necessity for any business to have commercial property insurance. Commercial property insurance covers the building if you own it, but that isn’t all it covers. It covers all the things that you need to do business. It can be tools, machines, office equipment, display units, inventory, raw materials, etc. With this insurance coverage, you will be able to get back into business quickly without having to lose a lot of income. 

Commercial liability coverage

Businesses get sued, it is the nature of being in business. It can be a dissatisfied customer, a disgruntled employee, or someone who gets injured while visiting your location or by a product you produce. If you are involved in legal action, it can be expensive for legal assistance as well as having to pay any judgment there might be against you. It could be enough to put you out of business if you don’t have the available cash to pay for it. 

Commercial auto insurance

If your business owns even one vehicle, you need to have commercial insurance. If you use a personal vehicle to transact business, your insurance may not cover you if you are in an accident. It isn’t worth the risk. 

Workers Compensation 

In South Carolina, if you have four employees or more, you must cover them with workers’ compensation insurance. 

Give Us A Call

Contact Ingram Insurance in Cheraw, SC when you are ready to get the coverage your business needs. 

Are you interested in getting liability insurance? If you are, it’s important that you understand the difference between general liability and professional liability insurance. Knowing this will help you get the liability coverage that is right for you. We at Ingram Insurance, serving the greater Cheraw, SC community, want to help you make the right liability insurance choices. 

Here we break down the difference between general liability and professional liability insurance:

General Liability Insurance

To start off, liability insurance covers your company against liability risks. It provides you with protection against claims resulting from situations where you could be held liable.

As for general liability, it covers physical risks.

General liability helps cover:

• Bodily injury claims 
• Medical payments
• Property damage
• Reputational harm
• Advertising errors

Therefore, most small business owners will benefit from general liability insurance coverage. It covers the common risks that may occur in business. 

Professional Liability Insurance

Professional liability insurance covers you if you’re found liable for the professional services you provide. This includes professional advice and contractual services. In addition, it will cover you against claims of negligence or misconduct. 

This includes:

• Negligence
• Bad advice
• Delays
• Errors
• Loss or theft of service

The Main Difference

Basically, the main difference between these two liability coverages comes down to what is covered. While general liability covers physical risks, professional liability covers more abstract risks. 

Furthermore, professional liability covers your business from risks not covered by general liability insurance. Therefore, if your business provides contractual services or offers professional advice, you should consider professional liability. 

When choosing liability coverage, you need to consider your business services and needs. You want to protect your business in case of liability. 

Get The Right Coverage Today

Contact our team of insurance experts at Ingram Insurance in Cheraw, SC to find out more about general liability and professional liability.